March 11 (Reuters) - Indian equities are set to open lower on Tuesday, tracking a broad sell-off across Asian markets after Wall Street tumbled overnight on fears that the U.S. economy could be careening into recession.

The decline followed U.S. President Donald Trump's refusal on Sunday to predict whether the U.S. could face a recession amid worries over his tariff policies, heightening investor concerns about global economic stability.

The GIFT Nifty futures GIFc1 were trading at 22,430.5 as of 07:53 a.m. IST, indicating that the blue-chip Nifty 50 .NSEI will likely open below Monday's close of 22,460.3.

Asian markets slid on the day, with Japan's Nikkei 225 .N225 sliding 2.7% and MSCI Asia ex-Japan .MIAPJ0000PUS falling 1.6%.

U.S. stocks fell sharply overnight as relentless tariff wrangling and mounting anxieties from a possible federal government shutdown stoked recession fears.

The Nasdaq Composite index .IXIC fell 4%, while Tesla TSLA.O plunged 15.4% in the wake of its CEO Elon Musk's Department of Government Efficiency firings and protests arising from his support of far-right political parties in Europe. MKTS/GLOB .N

Uncertainty over U.S. tariffs has caused inflationary worries in the world's largest economy and concerns over its impact on global growth, dragging most equity markets lower year-to-date.

Nifty 50 is trading about 14.5% below the all-time high hit in September 2024, hurt by slowing earnings growth, U.S. tariff uncertainty and relentless foreign selling.

Foreign portfolio investors $(FPI)$ sold Indian shares worth 4.85 billion rupees ($55.5 million) on Monday, taking the total outflows to about $28 billion since September-end when markets traded at their peaks.

STOCKS TO WATCH

** IndusInd Bank INBK.NS says its net worth will be hit by 2.5% due to discrepancies in its derivative accounts found during an internal review. The stock fell 4% on Monday and hit a 2.5-year intraday low after the Reserve Bank of India's shorter-than-expected extension to the CEO's tenure

** NTPC NTPC.NS and NTPC Green Energy NTPG.NS sign multiple agreements worth 960 billion rupees with Chattisgarh state government for nuclear, pump hydro and renewable projects

** Syngene International SYNN.NS acquires its first biologics facility in the U.S. from Emergent Manufacturing Operations Baltimore, a unit of Emergent BioSolutions EBS.N, for $36.5 million

($1 = 87.3760 Indian rupees)

(Reporting by Bharath Rajeswaran and Vivek Kumar M in Bengaluru; Editing by Sumana Nandy)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))